Fadel al-Ali

The executive chairman of Dubai Group, the financial services company of Dubai Holding, he announced late last month that he would be resigning from his post as chairman of NASDAQ Dubai, and from the boards of the NASDAQ OMX Group, Dubai Financial Market and Borse Dubai.

“It was a great honor for me to participate in Dubai’s evolution as a key financial centre,” he said in a statement. “I am also grateful for having been given the opportunity to take forward the growth of the exchanges. I believe they have reached high levels of maturity today and therefore, I am now ready to focus on Dubai Group.”

Ba’alawy has been heading Dubai Group since it began in 2000. He was earlier the CEO of Dubai Investment Group, and has also worked for more than ten years with Citibank.